Shopify Inc. (NYSE:SHOP) Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,491 shares of the software maker's stock after purchasing an additional 5,413 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Shopify were worth $3,986,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allianz SE purchased a new position in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. raised its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 2.6 %

SHOP stock traded up $2.45 during trading on Thursday, reaching $97.45. 4,426,510 shares of the stock were exchanged, compared to its average volume of 9,260,479. The business has a 50 day moving average price of $95.32 and a 200-day moving average price of $102.09. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market capitalization of $126.18 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHOP. ATB Capital raised their target price on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Citigroup raised their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Mizuho reduced their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group raised their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $118.14.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.